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Bank of England Chief Economist Andy Haldane is stepping down from his role following the June Monetary Policy Committee meeting, the bank announced Tuesday. Haldane, who has been at the BOE more than thirty years, is joining the Royal Society for Arts, Manufacturing and Commerce.

No successor to the role has yet been appointed and the BOE will advertise the position "in due course."

Andrew Bailey, BOE Governor, said Hadane had made "major contributions to the Bank's work in financial stability and monetary policymaking."

"He will be sorely missed but I know the RSA will be well served by Andy as Chief Executive," Bailey added.